The global corn market is driven by the adoption of corn in a wide range of end-user applications for their end-products and by-products. The increased demand for fuel ethanol and meat is driving the global demand for corn.
LONDON: The procurement research report on the corn market is an integral part of agro commodities and raw materials category portfolio and offers an in-depth assessment of the key factors influencing the supply chain, procurement decisions, pricing models, and procurement best practices. Furthermore, it also offers an in-depth analysis of the supply chain risk management, key market developments, and demand-supply shifts to help sourcing and procurement professionals make smart procurement decisions.
The constant increase in demand for corn can be attributed to its low-cost due to heavy subsidies on corn crop and use of corn for production of ethanol, which is a highly used biofuel. The use of by-products of corn such as animal feedstuff, cereal, snack, bakery, and alcoholic beverages is contributing to the growth of global corn market.
“Procurement managers must consider certain factors, such as market efficiency, perishability, seasonality, storage requirements, commodity cost share, price risk, storage availability, traceability, volume, sales forecast accuracy, and supplier service level, for making commodity-procurement decisions,” says A Kowshik, an agro commodities and raw materials industry procurement research specialist at SpendEdge.
Seasonal volatility caused due to sudden changes in weather such as a hurricane, tsunami, flood, or drought, increases price volatility of agricultural commodities, including corn. This increases the lead-time required between order and fulfillment of the order made for procurement of corn augments the price risk. It creates a significant influence on the unit costs for procurement managers and risk associated with perishability and quality of the commodities.
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This procurement report on the corn market offers insights on:
- Procurement best practices
- Supply markets, growth drivers, trends, and imminent restraints
- Negotiation strategies and cost-saving opportunities
- Key suppliers and assessment of their capabilities
- Pricing models and category innovations
- For a comprehensive, detailed list, view our full report
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